Mumbai: Bank of Baroda (Bank) has announced the launch of the bob Earth Green Term Deposit Scheme, aimed at raising deposits for financing eligible environment-friendly projects and sectors. The scheme offers customers the dual benefits of stable financial returns and contribution to a greener planet.
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The deposits yield annual interest rates of 6.75% for a tenure of 12 to 18 months and 7.15% for 777 days. Additionally, for tenures of 1111 days, 1717 days, and 2201 days, the interest rates stand at 6.40% per annum.
The funds raised through the scheme will be allocated to green projects and sectors such as renewable energy and clean transportation.
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Both existing and new customers of Bank of Baroda can open Green Deposits across its branches in India. bob Earth was launched on the bank’s 116th Foundation Day, underlining its reaffirmed commitment to environmental responsibility.
The bank’s MD & CEO Debadatta Chand said that the Deposit Scheme is an important step towards contributing to India’s transition to a green and sustainable economy.
He said that by offering customers the opportunity to invest in environment-friendly projects, Bank of Baroda is not only providing them with stable financial returns but also enabling them to make a positive impact on the environment.
